A bank has agreed to lend you $610,900 for a home loan. The loan will be fully amortized over 60 years at 10.59%, with .56 points. The loan payments will be monthly. The closing cost is estimated to be $3,712. Calculate the actuarial rate. O None of the answers are correct O 1.1480% 0.8930% O 0.5667% O 1.2288%

A bank has agreed to lend you $610,900 for a home loan. The loan will be fully amortized over 60 years at 10.59%, with .56 points. The loan payments will be monthly. The closing cost is estimated to be $3,712. Calculate the actuarial rate. None of the answers are correct 1.1480% 0.8930% 0.5667% 1.2288%